Apple REIT Nine, Inc.
hereby amends Item 9.01 of its Current Report on Form 8-K dated January 8,
2010 and filed (by the required date) on January 12, 2010 for the purpose
of filing certain financial statements and information. In accordance with Rule 12b-15 under the
Securities Exchange Act of 1934, as amended, this Amendment No. 1 sets
forth the complete text of the item as amended.

We have
audited the accompanying balance sheet of the Houston, Texas - Marriott Hotel
(the Hotel), as of December 31, 2009, and the related statements of
operations, partners equity and cash flows for the year then ended. These financial statements are the
responsibility of the management of the Hotel.
Our responsibility is to express an opinion on these financial
statements based on our audit.

We
conducted our audit in accordance with auditing standards generally accepted in
the United States. Those standards
require that we plan and perform the audit to obtain reasonable assurance about
whether the financial statements are free of material misstatement. An audit includes examining, on a test basis,
evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the
accounting principles used and significant estimates made by management, as
well as evaluating the overall financial statement presentation. We believe that our audit provides a
reasonable basis for our opinion.

In
our opinion, the financial statements referred to above present fairly, in all
material respects, the financial position of the Hotel as of December 31,
2009, and the results of its operations and cash flows for the year then ended
in conformity with accounting principles generally accepted in the United
States.

Hotel property purchases in
the amounts of $2,691,304, $223,023 and $218,921 were financed with increases
in accounts payable, accrued liabilities and due to affiliates,
respectively. Franchise fees in the
amount of $82,500 were financed with affiliate advances.

The accompanying notes are an integral part of
this financial statement.

HOUSTON, TEXAS - MARRIOTT HOTEL

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED DECEMBER 31, 2009

NOTE
1 - ORGANIZATION AND BASIS OF PRESENTATION

The
accompanying financial statements present the financial information of the
Houston, Texas - Marriott Hotel property (the Hotel) as of December 31,
2009 and for the year then ended. The
Hotel, which is located at 16011 Katy Freeway in Houston, Texas, was owned by
MWE Houston Property, L. P, a Texas
limited partnership throughout the period presented. The partnership entity was formed during
2007. The partnership acquired the Hotel
land and began construction on the 206 room Hotel during 2007.

The Hotel was being
developed by W. I. Realty I, L. P., an affiliate. At December 31, 2009, the Hotel was
under construction and, accordingly, had not opened for business. Hotel construction was completed and the
Hotel opened for business on January 8, 2010.

Marriott Hotels are full
service hotels providing daily lodging for business or leisure travelers. Economic conditions in the Hotel locality
will impact the Hotels future revenues and the ability to collect accounts
receivable.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Use of Estimates - The preparation of financial statements in
conformity with accounting principles generally accepted in the United States of America requires
management to make estimates and assumptions that affect the reported amounts
of assets and liabilities and disclosure of contingent assets and liabilities
at the date of the financial statements.
Actual results could differ from those estimates.

Cash and Cash Equivalents - The Hotel considers all
highly liquid debt instruments with a maturity date of three months or less at
date of purchase to be cash equivalents.
At times during the year, the Hotel maintains balances in banks which
exceed the federally insured limit.
These balances fluctuate during the year and the uninsured portion can
vary greatly. Management monitors regularly
the financial condition of the banking institutions, along with their balances
of cash and cash equivalents and tries to keep the risk to a minimum.

(Continued)

HOUSTON, TEXAS - MARRIOTT HOTEL

NOTES TO
THE FINANCIAL STATEMENTS

YEAR ENDED DECEMBER 31, 2009

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, (Continued)

Investment in Hotel Property  Land, construction in
progress and furnishings and equipment are stated at the Owners cost. Costs of improvements including interest,
financing costs and real estate taxes during the construction period are
capitalized. Costs of normal repairs and
maintenance are charged to expense as incurred.
Upon the sale or retirement of property and equipment, the cost and
related accumulated depreciation are removed from the respective accounts, and
the resulting gain or loss, if any, is included in income.

Construction
in progress consists of costs incurred to develop the site and construct the
Hotel to the time the Hotel is placed in operation.

No
depreciation has been recorded to date, since the Hotel has not been placed in
operation.

Asset Impairment - The Company reviews its long-lived assets
for impairment whenever events or changes in circumstances indicate that the
carrying amount of an asset may not be recoverable. Recoverability of assets held and used is
measured by a comparison of the carrying amount of an asset to undiscounted
expected cash flows. Future events could
cause the Company to conclude that impairment indicators exist and that long-lived
assets may be impaired. To date, no
impairment losses have been recorded.

Income Taxes - The Hotel property was owned by a limited
partnership throughout the financial statement period. Income and losses of a limited partnership
are passed through to the partners and taxed on their individual income tax
returns. Accordingly, this financial
statement does not reflect an income tax provision.

At
December 31, 2009, the limited partnership tax returns for calendar years
2007, 2008 and 2009 remained open for examination.

NOTE 3 - RELATED PARTY TRANSACTIONS

The
Hotel Owner entered into a franchise agreement with Marriott International, Inc.
on September 28, 2007 to operate a full service Marriott Hotel. The agreement, which is for a twenty year
term commencing with the opening date of the Hotel, requires an initial
franchise fee of $82,500. This fee is
included in the due to affiliates balance at December 31, 2009. The agreement requires the Owner to pay the
franchisor monthly franchise, and advertising fees based on escalating
percentages of gross room revenue and requires payment of food and beverage
fees based on escalating percentages of food and beverage revenue.

(Continued)

HOUSTON, TEXAS - MARRIOTT HOTEL

NOTES TO
THE FINANCIAL STATEMENTS

YEAR ENDED DECEMBER 31, 2009

NOTE 3 - RELATED PARTY TRANSACTIONS, (Continued)

The
Owner agreed to pay development fees of $1,400,000 to W. I. Realty I, L. P. in
connection with development of the Hotel property. At December 31, 2009, the entire amount
was earned and has been included in construction in progress.

$221,062
of the due to affiliates balance represents advances from W.I. Realty I, L.P.
and an affiliate to fund Hotel property costs and certain pre-opening
costs. The advances bear interest at ten
percent per annum. Through December 31,
2009, $3,706 of interest has been charged on the affiliate advances and is
capitalized to investment in Hotel property.

NOTE
4 - NOTES PAYABLE - AFFILIATES

Notes payable - affiliates represents funds loaned to the Owner of the
Hotel by affiliates of a limited partner.
The notes are unsecured, except by a pledge of certain partnership
interests. The notes bear interest at
the rate of 10% per annum. The notes
dated September 12, 2007 are for a ten year term and require payments of
interest only. Interest paid on these
loans totaling $446,579 in 2009 and $778,474 from inception, has been
capitalized to the investment in Hotel property.

NOTE
5 - MORTGAGE LOAN PAYABLE

The
Hotel property was encumbered by a $38,080,000 construction loan with Compass
Bank dated June 26, 2008. Through December 31,
2009, $27,414,405 had been advanced. The
note was secured by a deed of trust to the Hotel real estate, all contents and
personal property of the Hotel and an assignment of the rents and leases. The loan bore interest at libor plus 2.0%,
not to be reduced below 4.25%. The rate
at December 31, 2009 was 4.25%. The
loan was paid in full on January 8, 2010 upon the sale of the Hotel
property.

NOTE
6 - SUBSEQUENT EVENT

On January 8, 2010, the Owner sold the Hotel property to an
affiliate of Apple Nine Hospitality, Inc. for $50,750,000.

Subsequent events have been evaluated through February 18, 2010,
the date the financial statements were available to be issued.

This Pro Forma Condensed
Consolidated Balance Sheet also assumes that the hotel had been leased to one
of our wholly-owned taxable REIT subsidiaries pursuant to a master hotel lease
arrangement. The hotel acquired will be
managed by Texas Western Management Partners, L.P.

Such pro forma
information is based in part upon the historical Consolidated Balance Sheet of
Apple REIT Nine, Inc. and the historical balance sheet of the hotel
property.

The following
unaudited Pro Forma Condensed Consolidated Balance Sheet of Apple REIT Nine, Inc.
is not necessarily indicative of what the actual financial position would have
been assuming such transaction had been completed as of December 31, 2009,
nor does it purport to represent the future financial position of Apple REIT
Nine, Inc.

The unaudited Pro
Forma Condensed Consolidated Balance Sheet should be read in conjunction with,
and is qualified in its entirety by, the historical balance sheet of the
acquired hotel, as included in this document.

(B)Represents costs incurred to complete the acquisition,
including, title, legal, accounting and other related costs, as well as the
commission paid to Apple Suites Realty Group totaling 2% of purchase price per
contract. These costs are expensed for
acquisitions of existing businesses that occur on or after January 1,
2009.

(C)Represents other assets and liabilities assumed in the
acquisition of the hotel including, operational charges and credits and accrued
property taxes.

(D)Represents the reduction of cash and cash equivalents
by the amount utilized to fund the acquisitions.

Pro
Forma Condensed Consolidated
Statement of Operations (unaudited)
For the year ended December 31, 2009

The following
unaudited Pro Forma Condensed Consolidated Statement of Operations of Apple
REIT Nine, Inc. gives effect to the following hotel acquisitions:

Franchise

Location

Gross Purchase
Price (millions)

Actual Acquisition Date

Vista Host Hotels Portfolio (3 Hotels):

Hampton
Inn

Round Rock, TX

$

11.5

March 6, 2009

Hampton
Inn

Austin, TX

18.0

April 14, 2009

Homewood
Suites

Austin, TX

17.7

April 14, 2009

Orlando, FL Hotels Portfolio (2 Hotels):

Fairfield
Inn & Suites

Orlando, FL

25.8

July 1, 2009

SpringHill
Suites

Orlando, FL

29.0

July 1, 2009

Marriott

Houston, TX

50.8

January 8, 2010

Total

$

152.8

This Pro Forma
Condensed Consolidated Statement of Operations also assume all of the hotels
had been leased to our wholly-owned taxable REIT subsidiaries pursuant to
master hotel lease arrangements. The
hotels acquired will be managed by affiliates of Texas Western Management
Partners, L.P., Vista Host, Inc. and Fairfield FMC, LLC and SpringHill
SMC, LLC, subsidiaries of Marriott International, under separate management
agreements.

Such pro forma
information is based in part upon the historical Consolidated Statement of
Operations of Apple REIT Nine, Inc. and the historical Statements of
Operations of the hotel properties.

The following
unaudited Pro Forma Condensed Consolidated Statement of Operations of Apple
REIT Nine, Inc. is not necessarily indicative of what the actual financial
results would have been assuming such transactions had been completed on the
latter of January 1, 2009, or the date the hotel began operations nor does
it purport to represent the future financial results of Apple REIT Nine, Inc.

The unaudited Pro
Forma Condensed Consolidated Statement of Operations should be read in
conjunction with, and are qualified in their entirety by the historical
Statements of Operations of the acquired hotels.

(A) Represents
results of operations for the hotels on a pro forma basis as if the hotels were
owned by the Company at January 1, 2009 for the respective period prior to
acquisition by the Company. Three
properties began operations subsequent to January 1, 2009 and had limited
historical operational activity prior to their opening. These properties are as follows: Orlando, Florida Fairfield Inn &
Suites and Orlando, Florida SpringHill Suites opened in July 2009 and the
Houston Marriott full service hotel opened in January 2010.

(B) Represents
elimination of historical depreciation and amortization expense of the acquired
properties.

(C) Represents the
depreciation on the hotels acquired based on the purchase price allocation to
depreciable property and the dates the hotels began operation. The weighted
average lives of the depreciable assets are 39 years for building and seven
years for furniture, fixtures and equipment (FF&E). These estimated useful
lives are based on managements knowledge of the properties and the hotel industry
in general.

(D) Interest expense
related to prior owners debt which was not assumed has been eliminated. Interest income has been adjusted for funds
used to acquire properties as of January 1, 2009, or the dates the hotels
began operations.

(E) Represents
preopening expenses which are the Sellers responsibility and therefore have
been eliminated.

(F) Estimated income
tax expense of our wholly owned taxable REIT subsidiaries is zero based on the
contractual agreement put in place between the Company and our lessees, based
on a combined tax rate of 40% of taxable income. Based on the terms of the
lease agreements, our taxable subsidiaries would have incurred a loss during
these periods. No operating loss benefit has been recorded as realization is
not certain.

(G) Represents
costs incurred to complete the acquisition of existing businesses that occur on
or after Jaunuary 1, 2009, including, title, legal, accounting and other
related costs, as well as the commission paid to Apple Suites Realty Group
totaling 2% of purchase price per contract.
These costs have been adjusted for hotel acquisitions on the latter of January 1,
2009, or the dates the hotels began operations.

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